The Market Matters Global Macro ETF Portfolio Tracks our top 10 global macro calls, and provide avenues to trade them via ASX and internationally listed Exchange Traded Funds (ETF’s) – Click here to view
The portfolio added 0.5% during the week and remains fully invested. The Aussie Dollar position (AUDS) gained +3.5% and Global Gold Miners (MNRS) rallied +2.8%, conversely, the Euro position (ULE) fell -4.5%, and the FTSE Europe exposure (VGK US) also declined -3.2%.
Recently we took a short-term position in the BetaShares Nasdaq ETF (NDQ) traded on the ASX, this initially leaves us with zero cash and one switch plus one liquidation catching our attention moving into April, assuming markets rally as we anticipate:
- Take profit on our locally traded NDQ position and switch into the long volatility position discussed last week (VXX US).
- We are looking to cut one of our Emerging markets (IEM) or Vanguard FTSE Europe (VGK) positions into strength.
- Also, if we get clearly defined risk/reward sell signals we may also look to go short US equities at higher levels.
